Thursday, July 26, 2012

Technical indicators are currently a little bit bearish. MACD lines have crossed downwards and RSI reading is below 50. However, 200 days moving average has served as a support during whole July. 6544 Fibonacci level broke down violently and even Dax is flirting with it's SMA(200) we can still expect 6242 level to be touched.

Shorter term cycle indicator is down and investors are getting rid of riskier assets and stocks.

McClellan Summation Index is also pointing down.

50 day cycle indicator lines also crossed downwards and normally this has meant more down ahead.

Thursday, July 19, 2012

It is highly probable that we will see some kind of consolidation during next 1-5 days. Investors have been chasing high beta so intensively, that the risk cycle has already been topping and thus not letting much room for the upside.

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